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Phathom Pharmaceuticals Announces Closing of Underwriters’ Option to Purchase Additional Shares in Connection with Public Offering of Common Stock
FLORHAM PARK, N.J., June 09, 2023 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and
About this update from Phathom Pharmaceuticals, Inc.
[{"type":"text","content":"FLORHAM PARK, N.J., June 09, 2023 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the closing of the sale of an additional 1,668,750 shares of common stock at a public offering price of $11.75 per share pursuant to the exercise in full of the underwriters’ option to purchase additional shares in connection with Phathom’s recently completed public offering. After giving effect to the sale of these additional shares, the total gross proceeds to Phathom from the offering were approximately $150.3 million, before deducting the underwriting discounts and commissions and other offering expenses. Phathom intends to use the net proceeds from the offering to fund the clinical development of vonoprazan, pre-commercial activities and commercialization expenses and for working capital and general corporate purposes. Jefferies and Evercore ISI acted as joint bookrunning managers for the offering. Needham & Company acted as lead manager for the offering. The securities described above were offered by Phathom pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement relating to the offering has been filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at [email protected]; or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by email at [email protected]. Electronic copies of the final prospectus supplement and accompanying prospectus were filed with the SEC and are available on the website of the SEC at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdicti...